Wachtell

On February 27, 2009, Latham & Watkins laid off 440 associates and staff. These official layoffs came after months of quietly and stealthily laying off employees.

That year, Latham fell from #7 to #17 on the Vault 100 list of the most prestigious law firms. It was one of the biggest single year drops ever on the Vault list. At the time, I asked: “Is this as far as [Latham] will fall?”

Two years removed from that question, I’m staring at the brand-new Vault 100 rankings. Latham & Watkins is ranked #11.

Memory, my friends, is not something they screen for on the LSAT…

double red triangle arrows Continue reading “The 2012 Vault Rankings: Proof Of Short Memories”

Partnership: the proverbial brass ring.

‘Tis the season — for new partner elections at large law firms. Although there are some exceptions, most firms pick and announce their new partner classes around November and December, with partnership effective on January 1 of the following year.

These partnership announcements sometimes contain interesting information, if you read between the lines. As we’ve previously observed, “Partnership decisions often shed light on the current state of a firm, its prospects for the future, and its priorities. How many new partners did a firm make? How does the number of new partners this year compare to past years? In which practice areas did it make new partners? How many of the new partners are women or minorities?”

After the jump, we look at new partner news from ten top firms — perhaps you know some of these law firm superstars (and soon-to-be millionaires)? — and we invite you to discuss the new partners at your firm….

double red triangle arrows Continue reading “A Look at New Partner Classes at Ten Top Firms (and an Open Thread)”

Before we go hard-core with the lawyerly nuptials, we must mention a couple of recent Vows columns that are worth a look. First, this offbeat pair had three children together before finally deciding, at the ages of 63 and 39, to tie the knot. And the geriatric groom sounds way too horny: “I lusted after Nina, and still do, in a very primal way.” Yuck. If you’re over 40 and not John Slattery, Pierce Brosnan, or Captain Jean-Luc Picard, we don’t want to hear about your primal lust.

Then there’s this uncomfortable write-up, in which the couple cheerfully airs a story that makes the groom sound like a massive cad at best (he “shacked up” with someone else while she was studying abroad and failed to mention that detail in the cheesy love letters he was sending her). “I’m still pretty incredulous that she’s with me,” says the wannabe-player groom. So are we.

On to this week’s slate of newlyweds, which we believe sets a new record for number of Harvard and Yale degrees:

1. Anne Catherine Savage and Zachary Podolsky

2. Elena Lalli and Guillermo Coronado

3. Caroline Lopez and Nicholas Miranda

4. Alexandra Denniston and Caleb Schillinger

Read more about these couples — and vote for your favorite — after the jump.

double red triangle arrows Continue reading “Legal Eagle Wedding Watch: Badgered”

On Sex and the City, Samantha was never seen scrolling through comments on news blogs to make sure her clients’ reputations weren’t being maligned. Instead, she attended fancy New York parties and talked up her roster of good-looking clients.

But SATC is dated. The work of public relations professionals has been made harder (and less glamorous) by the explosion of online news sources. We know that law firm PR folks spend a healthy amount of time monitoring the legal blogosphere to do damage control for their firms. Another place they need to watch is Wikipedia.

The crowd-source encyclopedia has become the go-to reference site for most Internetters. Society’s sages often warn people not to take everything they find in Wikipedia at face value — since the information does not necessarily come from experts and is not systematically vetted — but that advice often goes unheeded.

Because Wikipedia is such an important source of information, and so easily edited, some try to manipulate entries to give them a positive or negative spin. Lawyers at certain firms have been found guilty of this before (e.g., Wachtell). Sometimes dueling manipulation of an entry reaches the level of what Wikipedia calls an edit war — when two or more editors are continually overriding one another’s changes.

The Wikipedia gods ordered an end to the war on the page of Latham & Watkins. BLY1 noticed that the page was put on lockdown. A note from the Wikipedia war god says:

NOTE: IF YOU HAVE COME HERE TO EDIT ABOUT LAYOFFS, THINK TWICE. EDITS MUST BE FACTUALLY VERIFIABLE, AND NEUTRAL. IF YOU ARE CONNECTED TO THIS COMPANY IN ANY WAY WE ADVISE YOU *NOT* TO TOUCH IT.

Someone kept inserting references to Latham’s layoffs and how hard hit first-year associates were. That info has now been scrubbed from the page.

We decided to take a stroll though the revision history of other law firm pages to see who needs to do clean up, and who has done clean up. Cravath, for example, had a very interesting description for a short time…

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Last summer, we reported that Orrick would be moving into fancy new offices in New York. Earlier this week, the office move took place. From the firm’s press release:

Orrick, Herrington & Sutcliffe LLP has moved its New York office to 51 West 52nd Street, the same building that houses CBS headquarters and which is also known as Black Rock. The innovative design of the space reflects Orrick’s progressive culture, integrating technological, environmental and social advantages that enable the firm to better and more efficiently serve its clients.

Non-traditional features for law firms are incorporated throughout the office. Numerous public spaces, transparent glass office fronts and an open floor plan, with low-height components for greater visibility and interaction among staff, contribute to a sense of community. To better connect with other offices and clients, Orrick invested in state-of-the-art telepresence conferencing equipment.

As it turns out, the Orrick offices have a Telepresence Room — not to be confused with the Cryogenic Room, where Ralph Baxter plans to live forever.

So, what do the new Orrick offices look like?

double red triangle arrows Continue reading “Lawyerly Lairs: Orrick’s New Digs in New York”

Today is an exciting day. As we noted earlier, the Am Law 100 rankings for 2010 have been announced. This is a big deal — the Biglaw version of the U.S. News law school rankings.

You can access the various charts via this portal page. Aric Press and Greg Mulligan summarize the results:

It could have been worse. That’s the best that can be said for the performance last year of The Am Law 100, the top-grossing law firms in the nation. Three of the four key categories we’ve measured for 25 years — gross revenue, head count, and revenue per lawyer — fell, while profits per equity partner (PPP) barely increased by 0.3 percent, or $3,463, to $1.26 million.

So PPP was basically stable in 2009 — not a bad result given the continuing economic weakness last year. Perhaps law firm partners are better business managers than they get credit for?

double red triangle arrows Continue reading “The Am Law 100 for 2010: ‘It Could Have Been Worse’”

It’s a wonderful time of year. No more innuendo: NALP forms have been updated, and firms have had to come clean with their statistics on summer hiring.

Look up your firm here.

Let’s crowdsource this baby. You look at your firm and tell us in the comments if somebody surprisingly massacred their summer class, and we’ll follow up next week.

I’ll get the ball rolling….

double red triangle arrows Continue reading “Updated NALP Forms: What Were the Real Offer Rates?”

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